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A certain beverage company provides a complete line of beer, wine, and soft drink products for distribution through retail outlets in central Iowa. Unit price data for 2011 and 2014 and quantities sold in cases for 2011 follow. Use 2011 as the base period. Unit Price ($) 2011 Quantity (cases) Item 2011 2014 Beer 30,000 18.50 20.15 Wine 5,000 100.00 120.00 Soft drink 60,000 8.00 8.80 Compute the price relatives for this company's products. (Round your answers to two decimal places.) Item Price Relative Beer Wine Soft drink Use a weighted average of price relatives to show that this method provides the same index as the weighted aggregate method. (Round your answers to the nearest integer.) weighted average of price relatives index weighted aggregate price index

A certain beverage company provides a complete line of beer, wine, and soft drink products for distribution through retail outlets in central Iowa. Unit price data for 2011 and 2014 and quantities sold in cases for 2011 follow. Use 2011 as the base period. Unit Price ($) 2011 Quantity (cases) Item 2011 2014 Beer 30,000 18.50 20.15 Wine 5,000 100.00 120.00 Soft drink 60,000 8.00 8.80 Compute the price relatives for this company's products. (Round your answers to two decimal places.) Item Price Relative Beer Wine Soft drink Use a weighted average of price relatives to show that this method provides the same index as the weighted aggregate method. (Round your answers to the nearest integer.) weighted average of price relatives index weighted aggregate price index

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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A certain beverage company provides a complete line of beer, wine, and soft drink products for distribution through retail outlets in central Iowa. Unit price data for 2011 and 2014 and quantities sold in cases for 2011 follow. Use 2011 as the base period. Unit Price ($) 2011 Quantity (cases) Item 2011 2014 Beer 30,000 18.50 20.15 Wine 5,000 100.00 120.00 Soft drink 60,000 8.00 8.80 Compute the price relatives for this company's products. (Round your answers to two decimal places.) Item Price Relative Beer Wine Soft drink Use a weighted average of price relatives to show that this method provides the same index as the weighted aggregate method. (Round your answers to the nearest integer.) weighted average of price relatives index weighted aggregate price index
Transcribed Image Text:A certain beverage company provides a complete line of beer, wine, and soft drink products for distribution through retail outlets in central Iowa. Unit price data for 2011 and 2014 and quantities sold in cases for 2011 follow. Use 2011 as the base period. Unit Price ($) 2011 Quantity (cases) Item 2011 2014 Beer 30,000 18.50 20.15 Wine 5,000 100.00 120.00 Soft drink 60,000 8.00 8.80 Compute the price relatives for this company's products. (Round your answers to two decimal places.) Item Price Relative Beer Wine Soft drink Use a weighted average of price relatives to show that this method provides the same index as the weighted aggregate method. (Round your answers to the nearest integer.) weighted average of price relatives index weighted aggregate price index
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